Policy Backgrounders
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Navigating the Economic Storm

Policy Backgrounders

CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.

Banking Crisis Updates; Fed and FDIC Publish Reviews of Supervision

May 02, 2023

Amid the sale of First Republic Bank to JPMorgan, the Federal Reserve and the FDIC released reports reviewing the role of supervision in recent bank failures and policy considerations moving forward.

  • The Federal Reserve’s report on SVB and FDIC’s report on SBNY each found lapses in regulatory oversight but also revealed repeated inaction by both management teams to address identified issues. Each agency plans to review its escalation and enforcement processes.
  • The Federal Reserve’s review of SVB detailed plans to review capital and liquidity requirements for mid-sized banks (over $100 billion in assets) while revisiting how the agency assesses risk of uninsured deposits and its handling of growing banks transitioning between size classes. Nearly all the potential changes outlined can be made through standard rulemaking under existing authorities.
  • The FDIC’s review of SBNY cited resource and staffing challenges as key contributors to supervisory issues at SBNY while also stating it will review its guidance related to uninsured deposits and to liquidity management.
  • The FDIC’s separate review of deposit insurance recommends a targeted increase in insurance limits on business payment accounts, along with other provisions to support stability.

Download Committee for Economic Development

Authors

Dr. Lori Esposito Murray

Dr. Lori Esposito Murray

Former President

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Mitchell Barnes

Mitchell Barnes

Senior Economic Policy Analyst

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Publications

Webcasts, Podcasts and Videos

Window on China: Outlook for 2024

January 25, 2024 09:00 AM CET (Brussels), 04:00 PM SGT (Singapore)

China's evolving data security regulatory framework

September 14, 2023 03:00 AM ET (New York), 09:00 AM CET (Brussels), 03:00 PM SGT (Singapore)

Press Releases / In the News

BRIEF

Inflation Heads in Wrong Direction for Fed

April 26, 2024

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US Economic Growth Cooled in Q1 2024

April 25, 2024

PRESS RELEASE

US Leading Economic Index® (LEI) Fell in March

April 18, 2024

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March retail sales rose, but real Q1 spending was lackluster

April 15, 2024

BRIEF

CPI remained stubbornly elevated in March

April 10, 2024

BRIEF

Employment Report Poses Some Risk to Fed Cut Timing

April 05, 2024

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